Short Interest in Telenor ASA (OTCMKTS:TELNY) Drops By 50.5%

Telenor ASA (OTCMKTS:TELNY) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 12,444 shares, a decline of 50.5% from the May 31st total of 25,138 shares. Based on an average daily volume of 138,988 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TELNY. Pareto Securities cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research upgraded Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Barclays lowered shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Telenor ASA Stock Performance

TELNY traded down $0.09 during midday trading on Tuesday, hitting $14.39. 9,548 shares of the company traded hands, compared to its average volume of 40,353. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98. Telenor ASA has a 52 week low of $13.79 and a 52 week high of $18.92. The firm has a market capitalization of $19.69 billion, a PE ratio of 13.84 and a beta of 0.28. The company’s 50-day moving average is $16.29 and its 200 day moving average is $16.42.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. On average, research analysts expect that Telenor ASA will post 2.09 EPS for the current year.

Telenor ASA Company Profile

Telenor ASA is a Norway-based multinational telecommunications company that provides a broad range of communications and digital services to consumers and businesses. Its core offerings include mobile voice and data services, fixed broadband, television distribution, and related value-added digital services. The company also provides enterprise solutions such as business connectivity, cloud and hosting services, Internet of Things (IoT) connectivity, and wholesale telecommunications services.

In its consumer-facing business, Telenor operates mobile networks, broadband access and content services, and increasingly bundles digital and financial services to enhance customer engagement.